National Bank of Malawi plc would like to advise that following the change in the determination of commercial banks’ base lending rates to align them to the Reserve Bank of Malawi (RBM) Lombard Rate, there will be adjustment in the method of referencing the lending rates to customers.

Further, in response to the downward revision of the Policy Rate and Liquidity Reserve Ratios, we are pleased to inform our borrowing customers that NBM plc has reduced its lending rates. The effective rates will now range from 14.9%, the current RBM Lombard rate, (previously NBM plc base rate was 23%) to a maximum of 25.9% (formerly a maximum of 33%).

The specifc application of the downward interest rate adjustment will depend on each customers’ risk profle and the type of the lending product. The Bank will endeavor to engage all its borrowing clients on how the reduction in the rates will be effected in their specifc case.

The new rates will become effective from Monday, 11th February 2019.

Management

National Bank of Malawi plc would like to advise that the following deposit interest rates will be applicable effective, 11th February 2019:  Product Interest Rate Current Account 0.10%  (on credit balances of MK 20,000,000 and above) Deposits Savings Bond 6.50% Ordinary Savings 3.00% Special Savers 1.00% Student Serve 2.50% Fiesta Save 6.00% Notice 7 day call 3.50% 30 day call 3.25% Fixed Deposits 2 months 6.50% 3 months 6.25% 6 months 5.00% 9 months Negotiable 12 months Negotiable Base lending rate 14.9%